Shiba Inu (SHIB) Price Prediction: Cryptagon Has Provided a Bullish Outlook for the Shiba Inu Price

Crypto analyst The Cryptagon has provided a bullish outlook for the Shiba Inu price. The analyst revealed that the meme coin is ready to bounce off an ascending triangle, which could send its price to its current all-time high (ATH) and possibly surpass it.

Crypto analyst The Cryptagon has provided a bullish outlook for the Shiba Inu price. The analyst revealed that the meme coin is ready to bounce off an ascending triangle, which could send its price to its current all-time high (ATH) and possibly surpass it.

In a TradingView post, The Cryptagon stated that the Shiba Inu price is rebounding off the 3.5-year triangle. He added that the 1-week Relative Strength Index (RSI) is on a similar sequence as between February and May 2023, which eventually led to a price surge of over 661%.

His accompanying chart showed that the Shiba Inu price could again rally to its current ATH as it breaks out from the triangle. This rally represents about a 700% increase, similar to the price surge that SHIB witnessed in 2023. The meme coin will need to break the crucial resistance at around $0.000035000.

The Cryptagon remarked that considering that the Shiba Inu price last week made a double bottom pattern similar to the August 2024 low, this is a “‘unique long-term opportunity.” He advised market participants to buy and target SHIB’s projected rally to $0.00008450.

Crypto analyst Javon Marks also recently predicted that the Shiba Inu price could rally to the $0.000081 range. He remarked that this breakout target remains unchanged as SHIB’s price continues to hold broken out and is up since showing responsiveness to this breakout. As such, he is confident that a rally of over 500% to reach this price target could still be in play.

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